The Analytical Framework Used to Evaluate Transactions Is Reproduced Below

The analytical framework used to evaluate transactions is reproduced below:
$\begin{array}{llllll}\text { Cash }+ \text { Non-Cash } =\text { Liabilities }+ \text { Contributed }+\text { AccunulatedOther }+\text {Retained}\\\quad \quad\quad\quad\text { Assets }\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Capital } \quad\quad\quad\text { Comprehensive }\quad\quad\quad\text {Earning:}\\\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Income}\end{array}$
Using this analytical framework indicate the effect of each of the following transactions for CX Corporation:
1. CX Corporation purchases land for $450,000 cash.
2. At the end of the period CX Corporation receives an appraisal that values the land at $540,000.
3. During the next period CX Corporation sells the land for $665,000.
4. CX pays taxes at a rate of 40%.

Correct Answer:

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